Shandong Weigao Group Medical Polymer Company Limited (SEHK:1066) entered an agreement to acquire additional unknown stake in Shandong Weigao Orthopedic Device Co., Ltd. from Gong Jianbo for CNY 84.7 million on May 21, 2020. The cash consideration for the acquisition will be paid within 30 days from the date of the agreement. Shandong Weigao Group Medical Polymer Company Limited will fund the acquisition from its internal resources.

In 2019, Weigao Ortho reported net assets of CNY 2 billion, revenues of CNY 1.6 billion, net profit before tax of approximately CNY 520 million, and net profit after tax of approximately CNY 450 million.